Between February 25 and March 10, 2022, officers from the Commercial Affairs Department and the seven Police Land Divisions undertook a two-week operation against scammers.
Between February 25 and March 10, 2022, officers from the Commercial Affairs Department and the seven Police Land Divisions undertook a two-week operation. A total of 158 males and 78 women, aged 14 to 72, are now assisting in investigations for their alleged involvement in scams, money mules.
They are believed to be involved in over 787 scam cases
Types of scams they are investigated for:
- Internet love scams
- e-commerce scams
- business email impersonation scams
- China/Government Officials impersonation scams
- investment scams
- job scams
- loan scam
where victims lost more than $5.1 million
Penalties:
The suspects are being investigated for the alleged offences of cheating, money laundering or providing payment services without a licence. If found guilty it carries an imprisonment term of up to 10 years and a fine.
The offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes carries an imprisonment term not exceeding 10 years, a fine not exceeding $500,000, or both.
The offence of carrying on a business to provide any type of payment service in Singapore without a licence under Section 5 of the Payment Services Act 2019 carries a fine not exceeding $125,000, an imprisonment term not exceeding three years, or both.